The negative relationship between the quantity of a good, service, or resource and the marginal utility obtained from each additional unit consumed in a given period of time describes diminishing marginal utility.
<h3>What is
diminishing marginal utility?</h3>
Marginal utility is the increase in utility as consumption is increased by one unit.
According to the law of diminishing marginal utility, as more of a product is consumed, utility increases at a diminishing rate. Economic theory suggest that consumption is maximised when marginal utility is equal to marginal revenue.
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Answer:
The answer is letter A.
Explanation:
They develop community networks as backup systems.
Answer:
The correct answer would be option D, Focus their thinking on the essence of the problem at hand.
Explanation:
An economist is a person who has expertise or who is an expert in the field of Economics. The Economists make assumptions about the economies to focus their thinking on the essence of the problem they have at the moment. They predict the economy, they analyze the economy, they suggest solutions to the problems concerning the economy on the basis of their experience and the new studies being carried up by them. So for this purpose they make assumptions because they want to clearly analyze the situations and want to see what impact their decision will make on the economy, which give them a clear picture about the possible solutions of the problem they have at hand at the moment.
Answer:$722,000
Explanation:
The over applied overhead of $8000 is deducted from cost of goods sold of $730,000.
The answer to this question is: <span>groups have equal and balanced composition.
</span>Which means that each groups in experimental research are not displaying the too mcuh difference in term of average characteristics.
This will make sure that the data that acquired during the research are stable and can be trusted (not affected by a special variance)
